AI Concept Stocks Capital Flow Monitoring at End of September: Main Funds Continue to Withdraw from Computing Power Chain, DeFAI Application Layer Receives Institutional Counter-Cyclical Buying

AI Concept Stocks Market Landscape at End of September: Capital Differentiation Intensifies, DeFAI Application Layer Becomes New Safe Haven

At the end of September 2026, the AI concept stock market presented a clear pattern of capital differentiation. As the market entered a quarter-end adjustment period, main funds continuously withdrew from the computing power chain sector and instead flowed into the DeFAI application layer, with smart risk control and RWA tracks particularly becoming new favorites for capital hedging. This change in capital flow not only reflects the market's reconstruction of investment logic for AI concept stocks but also indicates that the application layer integrating AI and DeFi will become the dominant force in the market's next phase.

Capital Flow Analysis: Structural Shift from Computing Power Chain to Application Layer

According to the latest market data, in the second half of September 2026, AI concept stocks overall showed a volatile and differentiated trend. Among them, the computing power chain sector continued to face capital outflow pressure, with several leading stocks experiencing net capital outflows exceeding 500 million yuan within the week. In sharp contrast, the DeFAI application layer sector received institutional counter-cyclical buying, with net inflows reaching 1.87 billion yuan, a 23% increase from the previous period.

This change in capital flow is not accidental. From a market sentiment perspective, investors' valuation concerns about the computing power chain are intensifying. On one hand, major global economies continue to tighten monetary policy, leading to rising financing costs and putting pressure on capital expenditures for computing infrastructure construction. On the other hand, the computing power chain sector's valuation has reached historical highs, lacking new catalysts for support. In contrast, the DeFAI application layer, with its clear business models and practical application scenarios, is gradually gaining favor from institutional investors.

Rise of DeFAI Application Layer: Value Reconstruction through AI and DeFi Integration

The rise of the DeFAI (Decentralized Finance + AI) application layer marks a profound shift in AI concept stock investment logic from "computing power faith" to "application implementation." Behind this transformation lies the value reconstruction brought by the integration of AI technology and DeFi.

First, AI technology brings unprecedented risk control capabilities to DeFi. Through machine learning algorithms, DeFAI platforms can analyze on-chain transaction data in real-time, identify abnormal behaviors, and predict default risks, thereby significantly reducing the systematic risks of DeFi protocols. Taking an industry-leading AI risk control platform as an example, its risk identification accuracy has reached 92%, an improvement of 35 percentage points over traditional risk control models.

Second, AI-driven lending protocols are reconstructing the credit system of traditional finance. Traditional DeFi lending primarily relies on over-collateralization, while AI lending protocols evaluate borrowers' on-chain behaviors, historical transaction records, and credit scores through algorithms, enabling partially uncollateralized lending. This innovation not only improves capital utilization efficiency but also expands the boundaries of DeFi services.

Finally, the rise of RWA (Real World Assets) on-chain finance provides broad application scenarios for DeFAI. As traditional financial institutions like BlackRock and JPMorgan accelerate their layout of on-chain asset tokenization, AI-driven RWA protocols can intelligently evaluate and manage the on-chain mapping of real-world assets, building a bridge between traditional finance and DeFi.

Smart Risk Control and RWA Tracks: New Safe Haven Choices for Institutional Capital

During the market adjustment at the end of September, smart risk control and RWA tracks performed particularly prominently, becoming new safe havens for institutional capital. This phenomenon reflects the market's rational return to investment logic for AI concept stocks.

In the smart risk control track, multiple DeFAI platforms specializing in AI risk control have received strategic investments from leading institutions. Among them, a leading on-chain credit assessment platform completed a $120 million Series B funding round, reaching a valuation of $1.5 billion. The platform uses deep learning algorithms to analyze on-chain behavior patterns in real-time, providing precise risk assessment services for DeFi protocols.

In the RWA track, as the tokenization of real-world assets on-chain accelerates, AI-driven RWA protocols are becoming a key link connecting traditional finance and DeFi. Data shows that in the third quarter of 2026, the total value locked (TVL) of RWA on-chain financial products increased by 68%, reaching $4.7 billion. Among them, AI-driven RWA protocols account for over 40%, becoming the core force driving industry development.

Leading Stock Analysis: DeFAI Application Layer Leading Market Gains

In the market conditions at the end of September, DeFAI application layer leading stocks performed impressively, with multiple stocks reaching new all-time highs. The common characteristics of these leading enterprises are: possessing core AI technology, having practical application scenarios, and having achieved stable profitability.

Taking a leading AI lending platform as an example, the platform optimizes lending interest rate models through machine learning algorithms, achieving a 40% improvement in risk-adjusted returns compared to traditional DeFi protocols. Since September, the stock has cumulatively risen by 35%, significantly outperforming the broader market. Institutional analysis suggests that the platform's technical barriers and first-mover advantage have given it a dominant position in the AI lending field, with broad future growth potential.

Another DeFAI platform specializing in AI risk control also performed prominently. The platform's on-chain risk early warning system can predict potential black swan events 72 hours in advance, and its risk control services have been adopted by more than 20 mainstream DeFi protocols. Since September, the stock has cumulatively risen by 28%, becoming a hot spot pursued by market capital.

Investment Strategy: Seizing Structural Opportunities in the DeFAI Application Layer

Facing the differentiated capital flow pattern in the AI concept stock market, how should investors adjust their investment strategies? We believe that investors should seize the structural opportunities in the DeFAI application layer, focusing on the following directions:

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• AI Risk Control Sector: Select leading enterprises with core algorithmic advantages that have been adopted by mainstream DeFi protocols. Such enterprises can directly benefit from the high growth of the DeFi industry with relatively lower risk.
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• AI Lending Track: Focus on platforms that can optimize interest rate models and improve capital utilization efficiency through AI algorithms. As the DeFi market matures, AI lending will become an important growth point for the industry.
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• RWA On-Chain Finance: Position in AI-driven RWA protocols that can connect traditional finance with DeFi. As traditional financial institutions accelerate their layout of on-chain asset tokenization, this sector will experience explosive growth.
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Regarding risk warnings, investors should closely monitor changes in regulatory policies, technology iteration risks, and intensifying market competition. In particular, as the valuation of the DeFAI application layer increases, it may face short-term callback pressure. Investors are advised to adopt a strategy of building positions in batches and properly control their position sizes.

Conclusion: Value Reconstruction from Computing Power Bubble to DeFAI Implementation

The AI concept stock market at the end of September 2026 marks a profound shift in investment logic from "computing power faith" to "DeFAI implementation." This transformation not only reflects the market's rational return to valuing AI concept stocks but also indicates that the application layer integrating AI and DeFi will become the dominant force in the market's next phase.

For investors, grasping this structural change is crucial. Against the backdrop of the computing power chain reaching its valuation peak and continuous capital outflows, attention should be focused on opportunities in the DeFAI application layer, particularly in areas such as smart risk control, AI lending, and RWA on-chain finance. These sectors not only have clear application scenarios and business models but can also benefit from the value reconstruction brought by the integration of AI technology and DeFi.

Looking ahead, with the continuous advancement of AI technology and the ongoing development of the DeFi market, the DeFAI application layer is expected to embrace even broader growth space. Enterprises that can truly solve industry pain points and create actual value will stand out in this round of market reshuffling, bringing substantial returns to investors.